Lincotrade & Associates Holdings
Does certified work become collected cash after year-end?
State: open
Evidence cutoff: 2026-09-03
Question reviewed: 2026-09-07
Mechanism: Revenue recognition precedes certification, invoicing and collection.
Best public test: Read the annual report contract-asset and receivable notes, then the half-year cash flow and bills payable.
Ideal disclosure: A dated certification-to-invoice-to-cash ladder with corresponding bills payable.
Limits: A transfer to receivables is not cash collection.
Resolution requires: A dated reconciliation identifies subsequent certification and cash collection separately, together with the funding balance on that date.
Question ID: lincotrade-collection
Snapshot: smid-desk-08179cdc352783e2b654ea5d3dee2e4785eabe69a5333921aa3b1caf5e492cc8
Evidence:
https://smidresearch.com/companies/lincotrade/#cash-conversion | src-lincotrade-collection-support | excerpt SHA-256 763933cc07933f6c78268e6417d7016366872e624cd019e619d0bc4cf11c31da
https://smidresearch.com/companies/lincotrade/#open-evidence-gaps | src-lincotrade-collection-challenge | excerpt SHA-256 4aae4b9bd3bc5d239a78ccf7c9bf4eef81b43416ccdf506d6991c70d9fc110b0
Organised from published SMID research. A linked issuer document is not a new independent review.
No ratings, price targets or personalized recommendations.

Lincotrade & Associates Holdings
Do committed facilities match the project funding cycle?
State: open
Evidence cutoff: 2026-09-03
Question reviewed: 2026-09-07
Mechanism: Project expenditure precedes collection while short-dated bills require rollover.
Best public test: Read the audited borrowing note and subsequent facility, security and covenant notices.
Ideal disclosure: Committed and undrawn limits, facility review dates, maturity profile and covenant headroom.
Limits: Unknown headroom is not zero; a resolved historical waiver is not a current breach.
Resolution requires: Current committed availability and maturities can be matched to the disclosed project cash cycle without assuming renewal.
Question ID: lincotrade-facility-cycle
Snapshot: smid-desk-08179cdc352783e2b654ea5d3dee2e4785eabe69a5333921aa3b1caf5e492cc8
Evidence:
https://smidresearch.com/companies/lincotrade/#debt-and-funding | src-lincotrade-facility-cycle-support | excerpt SHA-256 5308fa5136fe28e71a4e80e80e75caa73bcd8165dd2cc2e4b576f82db9bb9595
https://smidresearch.com/companies/lincotrade/#debt-and-funding | src-lincotrade-facility-cycle-challenge | excerpt SHA-256 1168b9c27f0adb9e0ab7692ebd0486fca68dfaa5cb8da58b2239b603645a4857
Organised from published SMID research. A linked issuer document is not a new independent review.
No ratings, price targets or personalized recommendations.

Revenue: S$129.5m | FY2026 | as-filed | obs-lincotrade-revenue
Definition: Revenue for Lincotrade & Associates Holdings, using the measure and perimeter stated in the linked public research; no cross-company equivalence implied.
Source: https://smidresearch.com/companies/lincotrade/#research-brief

Profit attributable to owners: S$8.1m | FY2026 | as-filed | obs-lincotrade-profit-owners
Definition: Profit attributable to owners for Lincotrade & Associates Holdings, using the measure and perimeter stated in the linked public research; no cross-company equivalence implied.
Source: https://smidresearch.com/companies/lincotrade/#research-brief

Operating cash flow: negative S$2.3m | FY2026 | as-filed | obs-lincotrade-operating-cash
Definition: Operating cash flow for Lincotrade & Associates Holdings, using the measure and perimeter stated in the linked public research; no cross-company equivalence implied.
Source: https://smidresearch.com/companies/lincotrade/#research-brief

Contract assets: S$22.4m | 2026-06-30 | as-filed | obs-lincotrade-contract-assets
Definition: Contract assets for Lincotrade & Associates Holdings, using the measure and perimeter stated in the linked public research; no cross-company equivalence implied.
Source: https://smidresearch.com/companies/lincotrade/#research-brief